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Median and Turbo renko indicator bundle

Robust median Renko style indicator for creating custom charts resembling Median Renko, Mean Renko, Turbo Renko and Better Renko candles as well as vanilla Renko with wicks plus Point-O charts. This all in one package provides all of the signals needed by day traders, scalpers, and even long-term traders.


Main characteristics

  • The indicator is an overlay on the main chart so it is possible to utilize one-click trading and order manipulation directly on the custom charts. Visual order placement is also possible.
  • History calculated using real tick data.
  • Built-in technical studies: 3 moving averages (Simple, Exponential, Smooth, Linear-weighted, Volume-weighted using tick volume or real volume), Bollinger Bands, Donchian channel, Super Trend.
  • Price level indications for current bar close levels, which are conveniently displayed to the right of the current bar.
  • Optional display of monthly, weekly and daily pivot levels.
  • Optional display of daily R1, R2, R3 & S1, S2, S3 resistance & support levels for the current trading day.
  • Optional display of previous day's high, low and close levels.
  • Optional ATR based bar size calculation.
  • Optional first Renko open offset.
  • Audio, Push notifications and text alerts for new bar open events and/or reversals (different audio files can be assigned for bearish and bullish reversals).
  • Convenient display of current bar's open date/time along with bar size and retracement factor information.
  • Color indication of last day's bar for easy history assessment.
  • Color markup of phantom Renko bars (gaps).
  • Each bar has its own info regarding the bar's Open, Low, High, Close values, as well as the Tick Volume, Real Volume (with breakdown of buy/sell volume) and Bar open time for use by EAs (saved as double in indicator's buffer and available via dedicated Data Window).
  • A dedicated data window is displayed when left-clicking a Renko bar while holding down the CTRL key.


Indicator Settings

  • Bars size (in points).
  • Retracement factor (0.01 to 1.00).
  • Asymmetrical reversals (true/false).
  • Show wicks (true/false).
  • ATR based bar size calculation (user editable ATR period and percent of daily ATR value used for bar size calculation).
  • Show history for defined number of days (plus current day).
  • Apply offset to first Renko (plus offset value).
  • Synchronize first bar's open on a new day (true/false).
  • Top/Bottom padding (0.0 - 1.0) - used to set the margins above and below the visible high & low of the visible Renko chart.
  • Show Monthly, Weekly and Daily pivot levels plus Daily R1, R2, R3 & S1, S2, S3 (calculated using Classic or Fibonacci method) as well as previous day's High, Low & Close levels with color definitions.
  • Pivot Point calculation method ( (H+L+C)/3 or (O+H+L+C)/4 ).
  • Show current bar's close projections (true/false) + bullish bar projection color and bearish bar projection color.
  • Display current bar's open time along with bar size and retracement factor (true/false) + Current bar's open time info color.
  • Alert on a new bar (true/false)
  • Alert on reversal bar (true/false)
  • Alert on MA crossover (true/false) - 1st MA (fast) & 2nd MA (slow) need to be enabled for the alert to work
  • Display alert in Alert Window (true/false)
  • Play sound on alert (true/false)
  • Send alert via push notification to a smartphone (true/false)
  • Use sound file for bullish alerts (.wav sound file located in MetaTrader 5 \Sounds folder).
  • Use sound file for bearish alerts (.wav sound file located in MetaTrader 5 \Sounds folder).
  • Settings for first MA - 3rd MA.
  • Show Channel (None, Donchian Channel, Bollinger Bands, Super Trend).
  • Donchian Channel period of averaging.
  • Bollinger Bands apply to.
  • Bollinger Bands period.
  • Bollinger Bands deviations.
  • Super Trend period.
  • Super Trend multiplier.
  • Display as bar chart (true/false).
  • Shift objects with chart (true/false)
  • Indicator used in EA via iCustom() (true/false) - Set this to true only when calling the indicator from an EA, another indicator or Script.

The first 5 settings are used for defining the type of chart that should be displayed and the next three are utilized for optional synchronization of chart's starting point for maximum consistency.

The following settings are used for turning ON/OFF various information on the chart to suit individual needs. These are followed by settings are used for custom alerting of new bars and new bar reversals.

Finally the last settings enable the trader to add 3 custom Moving Averages and a Donchian Channel, Bollinger Bands or Super Trend channel to perform technical studies directly on the Median Renko or Turbo Renko charts.

Below, you'll find the settings for creating several commonly utilized charting types:

  • Median Renko
    • Retracement factor = 0.5
    • Asymmetrical reversals = yes
    • Show wicks = yes
  • Vanilla Renko with wicks
    • Retracement factor = 1.0
    • Asymmetrical reversals = yes
    • Show wicks = yes
  • Turbo Renko
    • Retracement factor = 0.25
    • Asymmetrical reversals = yes
    • Show wicks = yes
  • Hybrid Renko
    • Retracement factor = 0.25
    • Asymmetrical reversals = no
    • Show wicks = yes
  • Point-O
    • Retracement factor = 1.0
    • Asymmetrical reversals = no
    • Show wicks = yes
Comentarios 22
189114nickynomates
349
189114nickynomates 2020.10.12 10:28 
 

This opens a whole new world to trading. I have brought many indicators and ea over the years the majority giving big promises but little in the way of results. Nothing comes close to this. Its a plug and play for the thinking trader. The Renko build is great and all you could ever ask for and the collection of indicators put together for help is just awesome. I very much hope i can run with a great ea i found that would be my dream. Keep up the great work Arhur look forward to many years of perfecting perfect trading.

waveriderj
19
waveriderj 2020.09.20 19:47 
 

5-star functionality

Jonathan Vodini
297
Jonathan Vodini 2020.06.30 19:43 
 

fantastic indicator, all you need in one, 5 stars!

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This tool was developed to help traders on candle by candle and replay training. In the indicator settings, the user can set the training start datetime. The indicator will autommatically hide all candles after this datetime. So the user can make studies before starting the training. Starting the training, the user can simulate your trades quickly and easily! Note: Demo version for testing can be found here: https://www.mql5.com/en/market/product/38314 This is a product developed by Renato F
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Better Volume MT5
Illia Zhavarankau
Description: The indicator of tick volumes Better Volume MT5 allows you to assess the general mood of the market and quite accurately catch the moments of the formation of large movements. The indicator is a color histogram in an additional window. In the calculation of Better Volume MT5 the Price Action combinations are taken into account, the values of the volumes with the height of columns and color marking are displayed. Input parameters: MAPeriod - period for calculating the moving average
80 USD
PipFinite Breakout EDGE MT5
Karlo Wilson Vendiola
The Missing Edge You Need To Catch Breakouts Like A Pro. Follow a step-by-step system that detects the most powerful breakouts! Discover market patterns that generate massive rewards based on a proven and tested strategy. Unlock Your Serious Edge Get it here ► www.mql5.com/en/blogs/post/723208 Have access to the game changing indicator that will take your trading to the next level! How To Trade Execute your trades in 3 Easy Steps! Step 1: Trade Setup Enter a signal if Success Rate is
98 USD
Advanced Currency Strength28 MT5
Bernhard Schweigert
⭐⭐⭐⭐⭐  Best Solution for any Newbie or Expert Trader! This Indicator is a unique, high quality and affordable trading tool because we have incorporated a number of proprietary features and a new formula. With only ONE chart you can read Currency Strength for 28 Forex pairs! Imagine how your trading will improve because you are able to pinpoint the exact trigger point of a new trend or scalping opportunity? USER MANUAL: click here The SPECIAL: Arrows in sub-window to show strong currency moment
128 USD
FX Market Correlation
Igor Pokorni
FX Market Correlation indicator calculates the weakness/strength from all 28 currency pairs in the market. This is unique and powerful way of watching the market. It works on all timeframes. You can use it for scalping, or you can use it for long term trading. FX Market Correlation indicator is NOT repainting. Features: --------- -easy determine which currency is strengthening and which is weakening -choose best currency pairs to trade and times to trade them -find correlation between pairs -N
89 USD
PZ Lopez Trend MT5
Arturo Lopez Perez
Este indicador sigue la tendencia del mercado con una confiabilidad inigualable, al ignorar las fluctuaciones repentinas y el ruido del mercado. Ha sido diseñado para intercambiar gráficos intradía de tendencia y plazos pequeños. Su relación ganadora es de alrededor del 85%. [ Guía de instalación | Guía de actualización | Solución de problemas | FAQ | Todos los productos ] Increíblemente fácil de comerciar Encuentra situaciones de sobreventa / sobrecompra Disfrute de operaciones sin ruido en to
149 USD
RSI Crossover Alert MT5
Thushara Dissanayake
The RSI Crossover Alert MT5 is a Notification System that is highly recommended for Relative Strength Index traders. This indicator focuses on the RSI crossover alert which is the combination of fast and slow RSI. It’s a good technique for filter traditional RSI signals to avoid false signals. Scalping Strategy 1 Buy Entry: Price is greater than EMA 200 RSI crossover Buy alert Sell Entry: Price is less than EMA 200 RSI crossover Sell alert Exit: Quick take profit (10-15 pips) Features Suita
50 USD
PipFinite Impulse PRO MT5
Karlo Wilson Vendiola
Are You Tired Of Getting Hunted By Spikes And Whipsaws? Don't become a victim of the market's erratic moves.. Do Something About It! Instantly make smarter decisions with Impulse Pro's precise balance of filters and accurate statistics. Timing Is Everything In Trading To learn more, please visit ► www.mql5.com/en/blogs/post/718212 Anticipate the next big move before it unfolds in 3 Simple Steps! Advantages You Get Early impulse detection algorithm. Flexible combination to different tr
88 USD
FiboPlus MT5
Sergey Malysh
La generación y acompañamiento automáticos de los niveles de Fibonacci para la venta y la compra con respecto a cuaquier instrumento (símbolo) y en cualquier período del gráfico. FiboPlus demuestra: los niveles de Fibonacci de movimientos probables del precio hacia arriba o hacia abajo. los puntos de entrada están marcados con íconos “flecha arriba”, “flecha abajo”, la información está doblada con botones SELL, BUY. área rectangular está limitada por los niveles de 0 a 100. El comercio de un niv
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Official Weis Wave MT5
Sant Clear Ali Costa
References: "A Modern Adaptation of the Wyckoff Method" "The Secret Science of Price and Volume" "Trades About to Happen" To know more, search on the internet: "The Wyckoff Method", "Weis Wave" and "Volume Spread Analysis"; Features 3 types of waves: bullish, bearish and unknown. The unknown wave comes when prices move in opposite the direction of the current wave. Label that shows the percentage remaining for the next wave. Allows you set the type of volume that will be accumulated in the wave
60 USD
Smart Harmonic Pattern
Andrey Danilo Sagot Munoz
PATRÓN ARMÓNICO INTELIGENTE es un indicador que explora el mercado en busca de posibles formaciones geométricas con fórmulas matemáticas relacionadas con Fibonacci. Hace un reconocimiento completo en la historia gráfica y el precio en vivo sin la necesidad de un análisis complejo, ya que todo se calcula con el mismo indicador. También puede trabajar con las formaciones antiguas y reconocer los niveles de negociación actuales proyectados automáticamente en el gráfico, todo esto solo con un clic e
69.99 USD
Advanced Currency Impulse with Alert MT5
Bernhard Schweigert
⭐⭐⭐⭐⭐  Best Solution for any Newbie or Expert Trader! This Indicator is a unique, high quality and affordable trading tool because we have incorporated a number of proprietary features and a secret formula. With only ONE chart it gives Alerts for all 28 currency pairs. Imagine how your trading will improve because you are able to pinpoint the exact trigger point of a new trend or scalping opportunity? USER MANUAL: click here Built on new underlying algorithms it makes it even easier to identif
128 USD
PAX3 Price Action Indicator
Marco Aurelio Santos Costa
You probably won't see the power of the indicator in the backtest, because it uses 3 windows, something you can't do, in the DEMO version that the site offers.  I trust 100% on my work and on my indicator, if you want a test version, send me a message, different from other sellers, who just want to "sell", I want whether you have a full version before renting and deciding. As you can imagine, it was a failure, I'm not saying that any indicator doesn't work, but they alone, don't help much. I
150 USD
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Filtro:
eliseexige
407
eliseexige 2020.09.23 16:18 
 

after multiple attempts during live markets, this is just like the rest of Artur's products. It will freeze, it will refresh the data and screw up custom indicators, and it will cost you because of it. I'd give this a 0 or negative star rating if it were possible. AVOID if you are a serious trader and need stability in fast markets, because you won't get it here. EDIT 2: Artur is working with me on all products to solve issues and I have adjusted the feedback accordingly.

gaswim
54
gaswim 2020.10.12 18:01 
 

Hello everyone I have bought median renko but I have some problem when I want to backtest with Mt5 backtester. Is there a solution. Please. Could someone help me.

189114nickynomates
349
189114nickynomates 2020.10.12 10:28 
 

This opens a whole new world to trading. I have brought many indicators and ea over the years the majority giving big promises but little in the way of results. Nothing comes close to this. Its a plug and play for the thinking trader. The Renko build is great and all you could ever ask for and the collection of indicators put together for help is just awesome. I very much hope i can run with a great ea i found that would be my dream. Keep up the great work Arhur look forward to many years of perfecting perfect trading.

Michael Edwards
28
Michael Edwards 2020.09.25 11:46 
 

El usuario no ha dejado ningún comentario para su valoración

waveriderj
19
waveriderj 2020.09.20 19:47 
 

5-star functionality

Paul Piper
23
Paul Piper 2020.07.20 06:46 
 

El usuario no ha dejado ningún comentario para su valoración

Jonathan Vodini
297
Jonathan Vodini 2020.06.30 19:43 
 

fantastic indicator, all you need in one, 5 stars!

Devonish
1573
Devonish 2019.09.04 20:43 
 

A quality tool and the developer was very helpful in resolving some minor issues I had.

StevenP
33
StevenP 2019.06.12 21:34 
 

This is a great indicator. So many options. Great developer

Traine
172
Traine 2019.02.11 01:48 
 

I am looking for the EA you made for this indicator.

Andre Gomes
1371
Andre Gomes 2019.01.04 22:56 
 

Very useful. I totally recommend it!

ALETRADEX
43
ALETRADEX 2018.09.29 18:54 
 

El usuario no ha dejado ningún comentario para su valoración

Michael Maggi
1472
Michael Maggi 2018.09.05 04:56 
 

This is a great indicator. I use it every day and have for a long time. Some of my trading strategies are outlined on my profile page with shared charts.

BMAT
22
BMAT 2018.08.20 15:19 
 

Trying to RE INSTALL it on a new computer and it wont work... THe only path to install is through the link (install on the plataform) but it wont work.

With the MT5 open I also go to Library - Purchased and it show the message (purchased but not dowloaded) and a button to INSTALL... It doesnt work! Please help. Thanks

Xavier507
40
Xavier507 2018.05.03 17:46 
 

Não consigo instalar o Renko, gostaria de ajuda. obrigado

wladimirwf
64
wladimirwf 2018.04.19 16:30 
 

Simplesmente NÃO CONSIGO instalar o indicador...ao tentar instalá-lo, aparece um "MedianRenkoOverlay_Trial" (versão TRIAL???) no Navegador, e ao arrastá-lo pra janela do gráfico, também não entra!!! Gostaria de uma solução pro meu problema!!!

AndreiDuke
31
AndreiDuke 2017.12.21 16:25 
 

Artur, thanks for the great indicator. I liked the communication with the author. Artur answered all my questions. Maybe this is the best Renko indicator and realy best Renko on Metatrader. Excellent work and thanks again!

kwlin_089
302
kwlin_089 2017.11.25 03:16 
 

Do not recommend to use automated! If you want to use it manually it will be useful

Artur Zas
21317
Respuesta del desarrollador Artur Zas 2020.12.18 16:02
You can safely use this with an EA. A lot has changed since 2017. I have a few working EAs for this indicator on my GitHub page with the SDK for this indicator. https://github.com/9nix6/Median-and-Turbo-Renko-indicator-bundle
Carlos Giunti
859
Carlos Giunti 2017.08.24 22:54 
 

Great indicator, Amazing support from Artur Zas,

Very responsive. A+++++

Renat Safin
81
Renat Safin 2017.08.11 15:50 
 

A good implementation of the Renko, but without the histograms of tick and real volume it is not very practical.

Henrique Sameshima De Souza
166
Henrique Sameshima De Souza 2017.04.24 23:44 
 

Great indicator, the developer is very responsive.

Julio Monteiro
2724
Julio Monteiro 2017.04.24 22:52 
 

The developer is very responsive to feedback and has made many improvements in the short time.

Respuesta al comentario
Versión 3.11 2020.10.12
Maintenance release
Versión 3.10 2020.09.30
Fixed "Truncate trailing digits on the first renko" setting for situations where the offset is equal to the number of digits after the decimal point.
Versión 3.9 2020.09.24
Added alerts for bearish or bullish only reversals;
Replaced and fixed the optional "First pip offset" by more intuitive "Truncate trailing digits on the first renko";
Fixed compatibility issues with the latest MT5 builds.
Versión 3.8 2020.07.07
Fixed LWMA indicator bug
Removed "H1" timeframe restriction.
Versión 3.7 2020.06.18
Price projections update bugfix.
Versión 3.6 2020.06.16
Recompiled for better compatibility with the latest MT5 builds
Versión 3.5 2020.03.26
Fixed alert handler
Versión 3.4 2020.03.25
Memory usage optimization
Versión 3.3 2020.03.22
Optimizations
Versión 3.2 2020.03.18
FIxed ATR based renko size calculation
Versión 3.1 2020.03.13
Code maintenance update
Versión 3.0 2020.03.11
BREAKING CHANGES (full info in comments)!
======================================
Completely rewritten tick data engine (fixed all known and reported bugs found in the previous version)
Renko body size is now denoted in "ticks" for better compatibility with stocks, futures, and indices.
Added 4th MA
Added Linear regression to the available MA types
Added Keltner Channel to the available channel types
Added optional trading session timespan with optional gray out of the after-hours zone (useful for futures and stock traders)
Added more settings to the "Show pivot settings" dropdown
Added optional price labels for MAs and Channel lines
Alert setting inputs are now consolidated (from 6 to 2 variables)
Bar close projection colors are now taken from the candle colors (1 and 2).
Versión 2.17 2019.09.05
Bugfix for last bar refresh problem found in previous version
Versión 2.16 2019.09.03
Fixed "duplicate tick" processing problem on the extremely fast-moving charts.
Fixed problem with brokers having an incorrect symbol specification info.
Added various optimizations and improvements.
Versión 2.15 2019.08.29
Fixed problem with "invisible renko bars" when backtesting with latest MT5 builds.
Versión 2.14 2019.08.27
Bugfix (fixed incorrect tick volume calculation for some historical renko bars)
Versión 2.13 2019.07.30
Changed "Bars size (in points)" input name to "Renko body size (in point)"
Changed "Renko body size (in point)" input field type from "integer" to "long"
Versión 2.12 2019.05.24
Bugfix: fixed problem with certain settings resulting in a blank chart.
Versión 2.11 2019.05.13
Bug fix: Fixed backtesting bug
Versión 2.10 2019.04.24
Small enhancements & code cleanup
Versión 2.9 2019.03.28
Added signal candle's close price to alerts;
Code cleanup.
Versión 2.8 2018.12.15
Bug fix & maintenance update
Versión 2.7 2018.12.12
Bug fixes
Versión 2.6 2018.11.23
Maintenance release
Versión 2.5 2018.06.29
Maintenance release - code optimization
Versión 2.4 2018.05.17
Bug fix: Fixed backtesting bug.
Versión 2.3 2018.05.17
Bug fixes.
Added: 2 MA cross alert (MA1 = fastMA, MA2 = slowMA)
Changed: Alert settings
Versión 2.2 2018.02.27
Maintenance update
Versión 2.1 2017.11.22
Maintenance release
Versión 2.0 2017.11.09
Version 2.00 uses real tick data to build and update the charts.
Added: Real tick volume (with Buy/Sell breakdown) is presented where available
Added: First Renko offset setting
Added: Classic or Fibonacci pivot lines plus support (S1,S2,S3) & resistance (R1, R2, R3) levels
Added: Previous sessions High, Low and Close levels
Added: Third moving average
Added: Volume weighted moving average method (using tick volume or real volume)
Added: Optional ATR based bar size calculation
Added: Optional display as bar chart (useful when using with Heiken Ashi indicator)

All known bugs in version 1.47 have been fixed
Versión 1.47 2017.06.06
Bug fixes
Versión 1.46 2017.04.10
Added "shift" parameters to Moving Averages
Added "SuperTrend" channel indicator
Added support for adding external indicators (via API)
Versión 1.45 2017.03.23
Changed: Data window is now displayed when holding CTRL + Left Mouse button
Added: Display of bar size / retracement setting info on chart
Added: Extra padding space on top & bottom of chart
Added: Possibility of changing bar colors for gap filling bars
Fixed: Price projections for certain Renko configurations
Versión 1.44 2017.03.06
Added Bollinger Bands technical indicator
Added Renko Data Window (press and hold the left mouse button on a selected Renko bar)
Versión 1.43 2017.02.24
Bug fix: Visual backtest now works correctly when indicator is used in an EA
Added new input: Indicator used in EA by iCustom() (true/false) (Prevents incorrect shifting of objects on chart when indicator used in an EA).
Versión 1.42 2017.02.17
Added sending new bar/new reversal bar notifications to a smartphone via MetaTrader app.
Versión 1.41 2016.07.27
Added: New "Show wicks" (true/false) option for enabling/disabling display of wicks on candles.
Changed: Code optimization.
Versión 1.40 2016.07.13
Added two new chart types:
- PointO (Retracement = 1.00, Symmetrical reversals = FALSE)
- Renko with wicks (Retracement = 1.00, Symmetrical reversals = TRUE)

All custom chart types are now displayed as an overlay on the main chart, so you can use visual order placement and modification directly on the chart.
Versión 1.30 2016.06.03
Added 2 moving averages and Donchian Channel technical indicators
Versión 1.2 2016.05.26
Bug fix of "Buffer overrun" on indicator startup when starting MT5 after few days of inactivity.